1,027 material Form 8-K filings that 835 companies we cover made with the SEC in February 2025, each read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). All of them were written later, when past filings were added: a selection, not every 8-K of the month (see the note below).
EPAM reported fourth-quarter 2024 revenue of $1.248 billion, up 7.9% year over year, and GAAP diluted EPS of $1.80, up 8.4%. For full-year 2025, it guided to non-GAAP diluted EPS of $10.45 to $10.75 and GAAP diluted EPS of $6.78 to $7.08, compared with 2024 actuals of $10.86 non-GAAP and $7.84 GAAP.
Pinnacle West Capital and Arizona Public Service announced leadership changes in their legal functions, effective immediately. Robert E. Smith was named Executive Vice President, Chief Legal Officer and Chief Development Officer, and Shirley A. Baum was promoted to Senior Vice President and General Counsel, to ease the handover of General Counsel duties ahead of Smith's planned retirement as an officer on August 1, 2025.
Robert E. Smith named Executive Vice President, Chief Legal Officer and Chief Development Officer of Pinnacle West and APS, effective immediately
Shirley A. Baum promoted to Senior Vice President and General Counsel of Pinnacle West and APS, effective immediately
Smith's planned retirement as an officer of Pinnacle West and APS is set for August 1, 2025
Asbury Automotive Group's board appointed Senior Vice President of Operations Daniel E. Clara as Chief Operating Officer, effective February 17, 2025. His base salary rose from $750,000 to $800,000, and he received a $1.5 million equity grant, 60% in performance-based units and 40% in time-vested units.
Daniel E. Clara, age 45, appointed COO effective February 17, 2025; board action dated February 13, 2025
Base salary increased from $750,000 to $800,000
Equity grant of $1.5 million: 60% performance-based RSUs vesting over three years, 40% time-vested RSUs vesting in equal installments over three years
Clara joined the company in 2002; his COO role adds development and innovation and parts of marketing to store operations
RenaissanceRe Holdings agreed on February 18, 2025 to sell $500 million of 5.800% senior notes due 2035 in an underwritten public offering. The company expects the offering to close on or about February 25, 2025, and plans to use the net proceeds for general corporate purposes, which may include redeeming, repaying or refinancing certain indebtedness.
Offering size: $500 million aggregate principal amount of 5.800% Senior Notes due 2035
Expected closing: on or about February 25, 2025, subject to customary conditions
Oceaneering reported fourth quarter 2024 revenue of $713 million, up 9% from a year earlier, and net income of $56.1 million, or $0.55 per diluted share, versus $0.43 a year earlier. For full year 2024, revenue was $2.7 billion, up 10%, and net income was $147 million, up 51%. The company also adjusted the lower end of its 2025 EBITDA guidance, citing potential impacts of geopolitical uncertainties, while its 2025 consolidated EBITDA range is $380 million to $430 million.
Q4 2024 revenue of $713 million, up 9% year over year; net income of $56.1 million, up 26%; diluted EPS of $0.55 versus $0.43
Full year 2024 revenue of $2.7 billion, up 10%; net income of $147 million, up 51%
2025 guidance: net income of $160 million to $190 million and consolidated EBITDA of $380 million to $430 million, with the lower end of the EBITDA range adjusted
Conference call and webcast scheduled for Thursday, February 20, 2025 at 10:00 a.m. Central Time
Coeur Mining reported fourth-quarter and full-year 2024 results, with full-year revenue of $1.1 billion and GAAP net income from continuing operations of $59 million, compared with a net loss of $103.6 million in 2023. The company also issued 2025 production, cost and expense guidance after closing its $1.58 billion all-equity SilverCrest acquisition on February 14, 2025, and expects one-time costs and negative free cash flow in the first quarter.
Full-year 2024 revenue was $1.1 billion, up from $821 million in 2023, and GAAP net income from continuing operations was $59 million, or $0.15 per share.
Full-year 2024 adjusted EBITDA was $339 million, compared with $142 million in 2023.
SilverCrest acquisition closed February 14, 2025, with about 239 million shares issued, implying an acquisition value of $1.58 billion.
2025 production guidance is 380,000 to 440,000 ounces of gold and 16.7 to 20.3 million ounces of silver; the company expects negative free cash flow in the first quarter and $75 to $85 million in cash taxes.
Nordson reported first quarter fiscal 2025 sales of $615 million, down 2.8% from a year earlier, with organic sales down 9%. Diluted EPS was $1.65 versus $1.90, and adjusted diluted EPS was $2.06 versus $2.21. The company guided second quarter sales to $650 million to $690 million and adjusted EPS to $2.30 to $2.50, and said backlog grew about 15% during the quarter.
Q1 sales of $615 million vs. $633 million a year earlier; organic sales fell 9%, with an 8% benefit from acquisitions
GAAP diluted EPS of $1.65 vs. $1.90; adjusted diluted EPS of $2.06 vs. $2.21, a 7% decrease
Q2 fiscal 2025 guidance: sales of $650 million to $690 million and adjusted EPS of $2.30 to $2.50 per diluted share
Backlog rose about $85 million, or 15%, to approximately $670 million; webcast with additional commentary set for February 20, 2025 at 8:30 a.m. ET
Valaris reported fourth quarter 2024 results. Net income rose to $131 million from $63 million in the third quarter, but revenue excluding reimbursable items fell to $548 million from $600 million and Adjusted EBITDA fell to $142 million from $150 million. The filing says the net income increase was helped by a $16 million discrete tax benefit, so the lower revenue and Adjusted EBITDA are the clearer signs of the quarter's operating trend.
Net income of $131 million, versus $63 million in the third quarter; diluted EPS was $1.88 versus $0.88
Revenue excluding reimbursable items of $548 million, down from $600 million, mainly on lower floater utilization
Adjusted EBITDA of $142 million, down from $150 million; the fourth quarter tax line included a $16 million discrete tax benefit
Host Hotels & Resorts reported fourth quarter 2024 revenues of $1,428 million, up 7.9%, while GAAP net income fell 18.7% to $109 million and diluted EPS fell 21.1% to $0.15. For full year 2025, the company guided to net income of $486 million to $546 million, below the $707 million reported for 2024, and diluted EPS of $0.68 to $0.77.
Q4 2024 revenues $1,428 million, up 7.9%; Q4 net income $109 million, down 18.7%
Full year 2024 revenues $5,684 million, up 7.0%; net income $707 million, down 6.0%; diluted EPS $0.99 vs. $1.04
2025 guidance: net income $486 million to $546 million; Adjusted EBITDAre $1,590 million to $1,650 million; comparable hotel Total RevPAR growth of 1.0% to 3.0%
Regular quarterly dividend of $0.20 per share announced February 19, 2025, payable April 15, 2025
PDF Solutions entered an Equity Purchase Agreement on February 19, 2025 to acquire the secureWISE business from Telit IOT Solutions for a cash price of $130 million, subject to customary adjustments. The deal is expected to close in the first calendar quarter of 2025 and is partly funded by a $70 million debt commitment from Wells Fargo, which the filing says is not a financing contingency for the purchase.
Cash purchase price of $130,000,000, subject to adjustments for debt, transaction expenses, cash and working capital
Debt commitment from Wells Fargo: $45 million revolving credit facility and $25 million term loan
Either party may terminate if closing has not occurred by March 12, 2025; Company may owe a $6.5 million reverse termination fee in certain cases
Expected to close during the first calendar quarter of 2025; Board approved the transaction
American States Water reported fourth-quarter 2024 diluted EPS of $0.75, up from $0.55, with about $0.06 per share of that gain tied to retroactive electric rates approved by the California Public Utilities Commission. For the full year, recorded diluted EPS fell to $3.17 from $3.36 because 2023 included a $0.38 per share retroactive water rate benefit and a $0.13 per share revenue reversal. Shareholders also received notice of a $0.4655 quarterly dividend payable March 3, 2025.
Q4 2024 diluted EPS $0.75 vs. $0.55 in Q4 2023; $0.69 excluding the $0.06 per share retroactive electric rate impact
Q4 2024 total operating revenues $143.1 million vs. $125.2 million in Q4 2023
Full-year 2024 diluted EPS $3.17 vs. $3.36 in 2023; adjusted EPS rose to $3.17 from $2.85
Board approved a $0.4655 per share first-quarter 2025 dividend, payable March 3, 2025
Churchill Downs reported fourth quarter 2024 net revenue of $624.2 million, up 11%, and net income attributable to the company of $71.7 million, up 24%. For the full year, net revenue rose 11% to $2.7 billion and net income was $426.8 million, up 2%, a smaller gain that reflects an $86.2 million after-tax gain on the 2023 sale of the Arlington property. Headline results improved for shareholders, but the release does not include earnings guidance for 2025.
Q4 2024 diluted EPS was $0.95 versus $0.76 a year earlier; adjusted EBITDA was $236.6 million, up 8%.
Full-year 2024 diluted EPS was $5.68 versus $5.49; adjusted EBITDA was $1.2 billion, up 13%.
The board approved an annual dividend of $0.409 per share, a 7% increase, paid January 3, 2025.
Project capital is expected to be $350 million to $400 million in 2025.
On February 14, 2025, Nextracker and its subsidiary Nextracker LLC amended their Credit Agreement with JPMorgan Chase Bank, N.A. as administrative agent. The amendment replaces the $1.0 billion basket for surety bonds with an unlimited amount when the pro forma Total Net Leverage Ratio does not exceed 2.75:1.00, and 200% of Consolidated EBITDA when it does. On February 19, 2025, the borrower repaid the term loan under the Credit Agreement in full. The filing does not state the term loan amount, so shareholders can see the change in borrowing capacity but not its size.
Surety bond basket was previously $1.0 billion; amended basket is unlimited if pro forma Total Net Leverage Ratio does not exceed 2.75:1.00
If the ratio exceeds 2.75:1.00, surety bonds are capped at 200% of Consolidated EBITDA
Amendment dated February 14, 2025, to the Credit Agreement dated February 13, 2023
Term loan repaid in full on February 19, 2025; the filing does not disclose the amount
The Cheesecake Factory reported fourth-quarter fiscal 2024 revenue of $921.0 million, up from $877.0 million a year earlier, and net income of $41.2 million, or $0.83 per diluted share, compared with $12.7 million and $0.26 a year earlier. Results included a pre-tax net expense of $14.4 million tied to asset impairments and lease terminations, partly offset by acquisition-related income; excluding these items, adjusted diluted EPS was $1.04. The Board also declared a quarterly dividend of $0.27 per share.
Q4 fiscal 2024 revenue $921.0 million vs. $877.0 million in Q4 fiscal 2023; comparable restaurant sales at The Cheesecake Factory rose 1.7%
Q4 diluted EPS $0.83 (GAAP) vs. $0.26 a year earlier; adjusted diluted EPS $1.04 vs. $0.80
Full-year 2024 revenue $3.58 billion; full-year diluted EPS $3.20 vs. $2.07 in fiscal 2023
Quarterly dividend of $0.27 per share, payable March 18, 2025, to holders of record on March 5, 2025
BGC Group's Chairman and CEO, Howard Lutnick, stepped down effective February 18, 2025, after the U.S. Senate confirmed him as the 41st Secretary of Commerce. The company said the departure was not the result of any dispute, and named Stephen Merkel as Chairman and three executives as Co-Chief Executive Officers, so the top leadership now differs from the prior arrangement.
Howard Lutnick stepped down as Chairman and CEO effective February 18, 2025; the filing says the departure was not the result of any dispute or disagreement.
Stephen Merkel, Executive Vice President and General Counsel since 2001, was appointed to the Board and as Chairman effective February 18, 2025.
John Abularrage, JP Aubin and Sean Windeatt were appointed Co-Chief Executive Officers effective February 18, 2025.
Brandon Lutnick, age 27, was appointed to the Board effective February 18, 2025 and will receive no compensation for Board service.
Toast reported fourth-quarter and full-year 2024 results, with Q4 net income of $33 million versus a net loss of $36 million a year earlier, and full-year net income of $19 million versus a $246 million loss in 2023. The company also gave 2025 outlook ranges for Adjusted EBITDA and non-GAAP gross profit, which shareholders can compare against future results.
Q4 2024 total revenue was $1,338 million, up from $1,036 million in Q4 2023; Adjusted EBITDA was $111 million, up from $29 million
Full-year 2024 Adjusted EBITDA was $373 million, up from $61 million in 2023; Toast cited its first year of GAAP profitability
2025 outlook: full-year Adjusted EBITDA of $510 million to $530 million; Q1 2025 Adjusted EBITDA of $100 million to $110 million
Annualized recurring run-rate (ARR) was $1,626 million as of December 31, 2024, up 34% year over year
Texas Pacific Land reported fourth-quarter and full-year 2024 results, with net income and revenue both higher than in the prior periods. The company said it set annual records across nearly every major performance metric, including net income and free cash flow per share, and it declared a quarterly dividend of $1.60 per share.
Full-year 2024 net income was $454.0 million, or $19.72 per diluted share, versus $405.6 million in 2023.
Full-year 2024 total revenues were $705.8 million, versus $631.6 million in 2023.
Fourth-quarter 2024 net income was $118.4 million, or $5.14 per diluted share, versus $106.6 million in the third quarter of 2024.
Board declared a quarterly cash dividend of $1.60 per share, payable March 17, 2025, to holders of record on March 3, 2025.
Park Hotels & Resorts reported fourth-quarter 2024 net income attributable to stockholders of $66 million, down from $187 million a year earlier, as strike activity and renovations weighed on results. For full-year 2024, net income attributable to stockholders rose to $212 million from $97 million and diluted EPS was $1.01 versus $0.44, while Adjusted EBITDA fell 1.1% to $652 million. The company expects 2025 Comparable RevPAR growth of 0.0% to 3.0% and Adjusted FFO per share of $1.90 to $2.20.
Q4 2024 diluted EPS was $0.32 versus $0.88, and Comparable RevPAR fell 1.4% to $179.02
Full-year 2024 Comparable RevPAR rose 2.9% to $186.78, and Adjusted FFO per share was $2.06 versus $2.04
2025 outlook calls for Adjusted EBITDA of $610 million to $670 million and diluted EPS of $0.39 to $0.69
Strike and related labor activity cut full-year 2024 Comparable Hotel Adjusted EBITDA by $32 million
Jackson Financial reported fourth-quarter 2024 net income of $334 million, or $4.45 per diluted share, compared with a loss of $(1.6) billion a year earlier, and full-year adjusted operating earnings of $1.4 billion, or $18.79 per diluted share. The company also raised its first-quarter 2025 dividend by 14% to $0.80 per share and set a 2025 capital return target of $700-800 million, which matters to shareholders because it indicates how much cash the company plans to return to them this year.
Q4 2024 net income attributable to common shareholders was $334 million, or $4.45 per diluted share, versus a loss of $(1.6) billion, or $(19.64) per diluted share, in Q4 2023.
Q4 2024 adjusted operating earnings were $349 million, or $4.65 per diluted share, up from $204 million, or $2.53 per diluted share, a year earlier.
Full-year 2024 adjusted operating earnings were $1.4 billion, or $18.79 per diluted share, compared with $1.1 billion, or $12.84 per diluted share, in 2023.
The first-quarter 2025 common dividend rises 14% to $0.80 per share, and the 2025 capital return target is $700-800 million.
Zimmer Biomet completed the issuance of $600 million of 4.700% notes due 2027, $550 million of 5.050% notes due 2030 and $600 million of 5.500% notes due 2035, adding $1.75 billion of direct debt. The 2030 and 2035 notes must be redeemed at 101% of principal, plus accrued interest, if the pending Paragon 28 acquisition is not completed on time or is terminated, so their repayment depends on that deal.
The 2027 notes mature February 19, 2027, the 2030 notes February 19, 2030 and the 2035 notes February 19, 2035.
Interest is payable semi-annually on February 19 and August 19, starting August 19, 2025.
The 2030 and 2035 notes carry a special mandatory redemption at 101% of principal if the Paragon 28 merger is not completed by November 28, 2025 (extendable to January 28, 2026) or the merger agreement is terminated.
The notes were issued under a Twelfth Supplemental Indenture dated February 19, 2025, to a base indenture dated November 17, 2009, with Computershare Trust Company, N.A. as trustee.
OPENLANE reported fourth-quarter and full-year 2024 results that improved on 2023, with Q4 revenue of $455 million and full-year income from continuing operations of $110 million, compared with a $155 million loss in 2023. The company also issued 2025 guidance of $290 million to $310 million in adjusted EBITDA and $0.38 to $0.48 in diluted income from continuing operations per share, which reflects the December 2024 divestiture of its automotive key business.
Q4 2024 total operating revenues were $455 million, up 12% from $406.1 million in Q4 2023, and Q4 income from continuing operations was $52.3 million versus $13.6 million a year earlier.
Full-year 2024 total operating revenues were $1,788.5 million, up from $1,695.7 million, and full-year income from continuing operations was $109.9 million versus a loss of $154.8 million in 2023.
Q4 2024 results include a $31.6 million gain on sale of business.
2025 guidance: income from continuing operations of $100 million to $114 million, adjusted EBITDA of $290 million to $310 million, and diluted income from continuing operations per share of $0.38 to $0.48.
Steve Madden signed a purchase agreement on February 12, 2025, to acquire the Kurt Geiger business through its UK subsidiary, at an enterprise value of about £289 million and a net equity value of £202.0 million at closing. The company also obtained debt commitments of up to $550 million from Citizens Bank, JPMorgan Chase and Citibank to help fund the deal, which remains subject to closing conditions including U.S. antitrust clearance.
Enterprise value of about £289 million; net equity value of £202.0 million at closing under a locked box arrangement
Debt commitments of up to $550 million: a $300 million term loan and a $250 million revolving credit facility
Closing requires expiration or termination of Hart-Scott-Rodino waiting periods; the agreement terminates automatically if conditions are not met by December 5, 2025
Steve Madden guarantees the UK purchaser's obligations under the agreement
Broadstone Net Lease reported fourth quarter and full year 2024 results on February 19, 2025. Fourth quarter net income was $27.6 million, or $0.14 per diluted share, up from $6.8 million a year earlier, and full year 2024 AFFO was $1.43 per diluted share, at the top end of the company's guidance range. The company also projected 2025 AFFO of $1.45 to $1.49 per diluted share.
Q4 2024 net income was $27.6 million, or $0.14 per diluted share, versus $6.8 million, or $0.03, in Q4 2023 and $37.3 million, or $0.19, in Q3 2024.
Q4 2024 revenues were $112.1 million, up from $105.0 million in Q4 2023; Q4 AFFO was $70.5 million, or $0.36 per share, the same per-share figure as Q4 2023.
Full year 2024 AFFO was $1.43 per diluted share, up from $1.41 in 2023 and at the top of guidance; 2025 AFFO guidance is $1.45 to $1.49 per diluted share.
The board declared a quarterly dividend of $0.29 per share, payable on or before April 15, 2025, to holders of record as of March 31, 2025.
New York Mortgage Trust reported a fourth-quarter 2024 net loss attributable to common stockholders of $41.8 million, compared with net income of $31.5 million a year earlier, and a full-year 2024 net loss of $103.8 million. Net interest income rose, but a $131.6 million unrealized loss in the quarter drove the swing to a loss. The filing is from New York Mortgage Trust, Inc. (NYMT), not Adamas Trust, Inc. (ADAM) as named in the request.
Q4 2024 net loss attributable to common stockholders was $41.8 million ($0.46 per share), versus net income of $31.5 million ($0.35 per share) in Q4 2023.
Full-year 2024 net loss was $103.8 million ($1.14 per share), versus a $90.0 million loss ($0.99 per share) in 2023.
Q4 2024 net interest income rose to $26.7 million from $16.8 million a year earlier.
On February 19, 2025, the board extended the common and preferred stock repurchase programs to March 31, 2026, with $189.7 million and $97.6 million remaining available.
ServisFirst Bancshares announced that David Sparacio will become Executive Vice President and Chief Financial Officer of ServisFirst Bank on March 10, 2025. Ed Woodie, who had served as interim CFO, will remain Senior Vice President and Controller and will no longer hold the interim CFO role on that date.
David Sparacio, 54, previously served as Executive Vice President and Corporate Controller at Ameris Bank from October 2021.
Base salary of $350,000, a $25,000 cash signing bonus repayable if employment ends within 24 months, and an award of 5,000 restricted shares vesting in full in five years.
Change in Control Agreement provides severance of 2 times base salary plus average cash bonus over the prior three years if terminated without Cause or for Good Reason during a two-year protected period.
ZoomInfo said Chief Technology Officer Ali Dasdan told the company on February 13, 2025 that he will leave to pursue a new opportunity. His last day is expected to be March 2, 2025. The filing does not name a successor or describe any financial impact.
Ali Dasdan, Chief Technology Officer, informed the company of his departure on February 13, 2025
Anticipated last day with the company is March 2, 2025
Carvana reported fourth-quarter and full-year 2024 results on February 19, 2025, with full-year revenue of $13.673 billion, up 27%, and net income of $404 million, compared with a 1.4% net income margin in 2023. The company expects significant growth in retail units sold and Adjusted EBITDA in full-year 2025, assuming the environment remains stable, and it also gave FY 2025 budget items such as about $520 million of GAAP interest expense.
FY 2024 retail units sold rose 33% to 416,348; revenue was $13.673 billion, up 27%.
FY 2024 net income was $404 million, a 3.0% margin, and included about $115 million from changes in the fair value of Root warrants.
Q4 2024 revenue was $3.547 billion, up 46%, and Q4 net income was $159 million, a 4.5% margin, compared with a loss margin of (8.3)% in Q4 2023.
The company expects significant growth in full-year 2025 retail units sold and Adjusted EBITDA, including a sequential increase in Q1 2025.
Reliance reported fourth-quarter 2024 net sales of $3.13 billion, down 6.3% from a year earlier, and diluted EPS of $1.93 versus $4.70, with non-GAAP EPS of $2.22 versus $4.73. The company said a $5.6 million LIFO expense, compared with $50 million of LIFO income in the third quarter, and a net unfavorable year-end LIFO and tax true-up of $0.74 per share weighed on results against its $2.65 to $2.85 non-GAAP EPS guidance range. For shareholders, the company also guided to first-quarter 2025 non-GAAP EPS of $3.30 to $3.50 and raised its quarterly dividend 9.1% to $1.20.
Full-year 2024 net sales were $13.84 billion, down 6.6%, and diluted EPS was $15.56 versus $22.64 in 2023
Share repurchases totaled a record $1.09 billion in 2024, reducing outstanding shares by 6% year over year
Q1 2025 non-GAAP EPS guidance is $3.30 to $3.50, with tons sold expected up 3.0% to 5.0% from Q1 2024
Quarterly dividend raised to $1.20 per share, payable March 21, 2025 to holders of record as of March 7, 2025
Rogers reported fourth quarter 2024 net sales of $192.2 million, down 8.6% from the prior quarter, and a GAAP net loss of $0.5 million, or $0.03 per diluted share. Adjusted earnings were $0.46 per diluted share, and the company guided first quarter 2025 net sales to $180 million to $195 million, with restructuring charges tied to winding down AES manufacturing in Evergem, Belgium.
Q4 2024 net sales $192.2 million versus $210.3 million in Q3 2024; GAAP operating margin was (2.6)%
Full-year 2024 net sales were $830.1 million, versus $908.4 million in 2023; full-year GAAP net income was $26.1 million
Q1 2025 guidance: net sales $180 million to $195 million; GAAP loss of $0.26 to earnings of $0.04 per diluted share; adjusted $0.10 to $0.40
Restructuring and impairment charges were $16.3 million in Q4 2024, including costs tied to the Evergem, Belgium AES wind-down
Remitly reported fourth quarter and full year 2024 results on February 19, 2025. Revenue rose 33% in the quarter and 34% for the year, and the net loss narrowed sharply from the prior-year periods. The company also guided to positive GAAP net income for 2025, while expecting a GAAP net loss in the first quarter of 2025.
Q4 2024 revenue was $351.9 million, up 33% from $264.8 million; net loss was $5.7 million versus $35.0 million a year earlier.
Full year 2024 revenue was $1,264.0 million, up 34%; net loss was $37.0 million versus $117.8 million in 2023.
2025 outlook: revenue of $1.565 billion to $1.580 billion and Adjusted EBITDA of $180 million to $200 million, with GAAP net income expected to be positive.
Q1 2025 outlook: revenue of $345 million to $348 million and a GAAP net loss, with Adjusted EBITDA of $36 million to $40 million.
Tanger reported fourth-quarter 2024 results with diluted net income of $0.23 per share and FFO of $0.54 per share, both up from the prior-year quarter, and total revenues of $140.7 million, up from $127.5 million. Full-year net income per diluted share fell to $0.88 from $0.92, while full-year FFO rose to $2.12 from $1.96. The company also set 2025 estimated diluted FFO of $2.22 to $2.30 per share and reported a $167.0 million Pinecrest acquisition that closed on February 12, 2025.
Q4 2024 diluted net income was $0.23 per share, or $26.3 million, versus $0.22 per share, or $23.5 million, a year earlier
Q4 2024 FFO was $0.54 per share, or $63.3 million, versus $0.52 per share, or $58.2 million, a year earlier
2025 guidance: estimated diluted net income of $0.94 to $1.02 per share and diluted FFO of $2.22 to $2.30 per share
Pinecrest in Cleveland, Ohio, was acquired on February 12, 2025 for $167.0 million; the quarterly dividend is $0.275 per share
Sabra Health Care REIT reported fourth-quarter 2024 net income of $46.7 million, or $0.19 per diluted share, compared with $17.2 million, or $0.07, a year earlier, and total revenues of $182.3 million versus $163.4 million. The company also introduced 2025 per-share earnings guidance, with Normalized AFFO expected at $1.48 to $1.51, above its 2024 Normalized AFFO of $1.44.
Q4 2024 total revenues $182.3 million, up from $163.4 million; net income $46.7 million, up from $17.2 million
Grand Canyon Education reported fourth-quarter 2024 service revenue of $292.6 million, up 5.1%, and diluted EPS of $2.84 versus $2.71 a year earlier, although operating margin fell to 34.2% from 35.1%. The company also issued full-year 2025 diluted EPS guidance of $8.20 to $8.59, compared with $7.73 for 2024, and its board approved a $200.0 million increase to the stock repurchase program, which shareholders may view as a return of capital.
Q4 2024 service revenue was $292.6 million, up $14.3 million or 5.1%; operating income was $100.0 million, up 2.3%.
Q4 2024 diluted EPS was $2.84 versus $2.71; net income was $81.9 million, up 1.4%.
2025 guidance: Q1 diluted EPS of $2.44 to $2.46 and full-year diluted EPS of $8.20 to $8.59.
On January 29, 2025, the board approved a $200.0 million buyback increase; $261.9 million remained available as of February 14, 2025, with authorization expiring March 1, 2026.
Trupanion reported fourth quarter 2024 revenue of $337.3 million, up 14% from a year earlier, and net income of $1.7 million, or $0.04 per diluted share, compared with a net loss of $2.2 million in the same quarter of 2023. For full year 2024, net loss narrowed to $9.6 million from $44.7 million, and revenue rose 16% to $1.29 billion, which points to improved profitability for shareholders.
Q4 2024 adjusted EBITDA was $19.4 million, compared with $8.5 million in Q4 2023.
Full year 2024 net loss was $9.6 million, or $0.23 per share, versus $44.7 million, or $1.08 per share, in 2023.
Full year 2024 free cash flow was $38.6 million, compared with $0.4 million in 2023.
Q4 2024 included a $5.3 million goodwill impairment charge.
Expeditors International said CEO Jeffrey S. Musser will retire effective March 31, 2025, and Daniel R. Wall, currently President – Global Geographies, will succeed him as President and CEO effective April 1, 2025. The board chair said the board evaluated several candidates as part of regular succession planning and chose Wall. The filing reports no financial results, so the change is the main news for shareholders.
Jeffrey S. Musser, President and CEO, retires effective March 31, 2025, and will leave the Board of Directors.
Daniel R. Wall becomes President and CEO effective April 1, 2025, and will join the Board and stand for election at the 2025 Annual Meeting of Shareholders.
During Musser's tenure as CEO from 2014, revenues grew from $6.1 billion in 2013 to $10.6 billion in 2024, according to the press release.
Wall, 56, joined Expeditors in March 1987 and has held several senior roles, including President, Global Services from January 1, 2023.
Winmark reported fiscal 2024 results for the year ended December 28, 2024, with revenue of $81.3 million, down from $83.2 million in 2023. Net income was $40.0 million, or $10.89 per diluted share, compared with $40.2 million, or $11.04, a year earlier. The company said the decline reflects its May 2021 decision to run off its leasing portfolio, and shareholders see lower revenue and per-share profit in both the year and the fourth quarter.
Full-year revenue was $81,289,100 versus $83,243,500 in 2023.
Full-year net income was $39,954,200, or $10.89 per diluted share, versus $40,178,100, or $11.04 per diluted share.
Fourth-quarter net income was $9,583,100, or $2.60 per diluted share, versus $9,716,800, or $2.64 per diluted share in the prior-year quarter.
Leasing income fell to $1,811,800 for the year from $4,766,200, following the May 2021 decision to run off the leasing portfolio.
Clean Harbors reported fourth-quarter 2024 revenue up 7% to $1.43 billion, while net income fell to $84.0 million, or $1.55 per diluted share, from $98.3 million, or $1.81, a year earlier. For full-year 2024, revenue rose 9% to $5.89 billion and diluted EPS rose to $7.42 from $6.95, and the company guided to 2025 adjusted EBITDA of $1.15 billion to $1.21 billion.
Q4 2024 revenue rose 7% to $1.43 billion; Q4 diluted EPS was $1.55 versus $1.81 in Q4 2023.
Full-year 2024 net income was $402.3 million, or $7.42 per diluted share, versus $377.9 million, or $6.95, in 2023.
2025 guidance: adjusted EBITDA of $1.15 billion to $1.21 billion and adjusted free cash flow of $430 million to $490 million.
In Q1 2025, the company expects Environmental Services adjusted EBITDA to grow 4% to 6% and consolidated adjusted EBITDA to be flat.
PROG Holdings reported fourth-quarter 2024 revenue of $623.3 million, up 8.0% from a year earlier, and net earnings of $57.5 million, compared with $18.6 million. The quarter's net earnings included a $27.6 million deferred tax benefit. The company's full-year 2025 outlook calls for GAAP diluted EPS of $2.82 to $3.22, below the $4.53 it reported for 2024.
Q4 2024 diluted EPS was $1.34, versus $0.41 a year earlier; non-GAAP diluted EPS was $0.80, versus $0.72
Q4 2024 Progressive Leasing GMV was $597.5 million, up 9.1% year over year
Full-year 2025 outlook: total revenues of $2.515 billion to $2.590 billion and diluted EPS of $2.82 to $3.22
Q1 2025 outlook: total revenues of $665 million to $685 million and diluted EPS of $0.73 to $0.78
Wingstop reported fiscal fourth-quarter 2024 total revenue of $161.8 million, up 27.4%, and net income of $26.8 million, or $0.92 per diluted share, up 42.2%. For fiscal 2024, revenue rose 36.0% to $625.8 million and net income rose 54.9% to $108.7 million, or $3.70 per diluted share, while cost of sales as a percentage of company-owned restaurant sales rose to 76.5% from 73.7%.
Q4 2024 net income was $26.8 million, or $0.92 per diluted share, up 42.2% from $18.8 million a year earlier.
Fiscal 2024 total revenue was $625.8 million, up 36.0%; net income was $108.7 million, or $3.70 per diluted share.
2025 outlook: low- to mid-single digit domestic same store sales growth and global unit growth of 14% to 15%.
Board declared a $0.27 quarterly dividend, payable March 28, 2025, to holders of record on March 7, 2025.
APi Group said preliminary 2024 net revenues will exceed its October 2024 guide of about $7 billion and adjusted EBITDA will be in line with the midpoint of its $890 million to $900 million range, before a stronger U.S. dollar. It also gave initial 2025 guidance of $7.3 billion to $7.5 billion in net revenues and $970 million to $1.02 billion in adjusted EBITDA, and closed a repricing of its $2,157 million term loan that cuts the margin by 25 basis points, which the company estimates saves about $5 million a year. The 2024 figures are unaudited and the auditor has not finished its review.
2024 net revenues are expected to be above the October 31, 2024 guide of about $7,000 million; adjusted EBITDA is expected in line with the $890 million to $900 million guided midpoint, before currency impact
2025 guidance: net revenues of $7,300 million to $7,500 million excluding acquisitions or divestitures; adjusted EBITDA of $970 million to $1,020 million, a 13.4% margin at the midpoint
Amendment No. 7 closed February 14, 2025, refinancing approximately $2,157 million of term loans maturing January 3, 2029, with the margin reduced by 25 basis points and about $5 million in annual cash savings
Earnings call scheduled for February 26, 2025; Investor Day set for May 21, 2025
Gibraltar reported fourth-quarter 2024 net sales of $302.1 million, down 8.1% from a year earlier, while GAAP diluted EPS rose to $1.50 from $0.63 and adjusted diluted EPS rose 17.4% to $1.01. For 2025 it guided to net sales of $1.40 billion to $1.45 billion and adjusted EPS of $4.80 to $5.05, compared with $4.25 in 2024.
Q4 2024 net sales were $302.1 million, down 8.1%, driven by Renewables and continued Residential softness
Q4 2024 GAAP net income was $46.2 million, or $1.50 per diluted share, versus $19.4 million, or $0.63, a year earlier
Full-year 2024 net sales were $1.31 billion, and operating cash flow was $174 million
2025 guidance: net sales $1.40 billion to $1.45 billion; GAAP EPS $4.25 to $4.50; adjusted EPS $4.80 to $5.05
Jones Lang LaSalle reported fourth-quarter 2024 revenue of $6.8 billion, up 16% in local currency, and diluted earnings per share of $4.97, up from $3.57. For the full year, revenue rose 13% to $23.4 billion and diluted EPS reached $11.30 versus $4.67 in 2023, so the headline results improved for shareholders.
Q4 2024 revenue $6.8 billion, up 16% in local currency; Capital Markets up 32%
Q4 diluted EPS $4.97 vs $3.57; adjusted diluted EPS $6.15 vs $5.36
Full-year 2024 diluted EPS $11.30 vs $4.67; operating cash flow $785 million
$1,013.2 million remained authorized for share repurchase as of December 31, 2024
Charles River Laboratories reported fourth-quarter 2024 revenue of $1.00 billion, down 1.1%, and a GAAP loss of $4.22 per share after a $215.0 million goodwill impairment tied to its Biologics Solutions unit. Non-GAAP EPS rose 8.1% to $2.66 in the quarter, but full-year 2024 non-GAAP EPS fell 3.3% to $10.32, and the company guided to lower 2025 revenue and non-GAAP EPS of $9.10 to $9.60 while planning about $350 million in stock repurchases.
Q4 2024 revenue was $1.00 billion, down 1.1% from $1.01 billion; organic revenue declined 1.8%
Q4 GAAP loss per share was $(4.22), versus $3.62 diluted EPS a year earlier; the goodwill impairment accounted for $4.20 per share
2025 guidance: reported revenue decline of 7.0% to 4.5%; non-GAAP EPS of $9.10 to $9.60 versus $10.32 in 2024
Company plans to repurchase approximately $350 million of common stock in 2025
SolarEdge reported fourth-quarter 2024 revenue of $196.2 million, down 17% from the prior quarter and down from $316.0 million a year earlier, with a GAAP net loss of $287.4 million, or $5.00 per share, including a $138 million write-down and impairment. For full-year 2024, revenue was $901.5 million against $2.98 billion in 2023, and the GAAP net loss was $1.81 billion. The company also guided first-quarter 2025 revenue to $195 million to $215 million and said it will stop reporting segments.
Q4 2024 revenue $196.2 million, down 17% from $235.4 million in Q3 2024 and from $316.0 million in Q4 2023
Q4 2024 GAAP net loss $287.4 million ($5.00 per share), versus $1.23 billion in Q3 2024 and $162.4 million in Q4 2023
Full-year 2024 GAAP net loss $1.81 billion, versus net income of $34.3 million in 2023; write-downs and impairments totaled $1.17 billion
Q1 2025 guidance: revenue $195 million to $215 million; non-GAAP gross margin 6% to 10%; non-GAAP operating expenses $98 million to $103 million
Enpro reported fourth-quarter 2024 results with sales of $258.4 million, up 3.7%, and GAAP income from continuing operations attributable to Enpro of $13.9 million, compared with a loss of $4.9 million a year earlier. For full-year 2024, sales fell 1.0% to $1.05 billion, while GAAP net income from continuing operations rose to $72.9 million, and the company introduced 2025 guidance of adjusted EBITDA of $262 million to $277 million and adjusted diluted EPS of $7.00 to $7.70.
Q4 2024 diluted EPS from continuing operations was $0.66, versus a loss of $0.23; adjusted diluted EPS rose 31.9% to $1.57.
Full-year 2024 sales were $1.05 billion, down 1.0%, while diluted EPS from continuing operations rose to $3.45 from $0.51.
2025 guidance: low to mid-single-digit revenue growth, adjusted EBITDA of $262 million to $277 million, and adjusted diluted EPS of $7.00 to $7.70.
On February 13, 2025, the quarterly dividend was raised 3.3% to $0.31 per share, payable March 19, 2025.
Trimble reported fourth-quarter 2024 revenue of $983.4 million, up 5% year over year, and non-GAAP diluted EPS of $0.89 versus $0.63 a year earlier. Full-year 2024 revenue fell 3% to $3,683.3 million, and the company set 2025 revenue guidance of $3.37 billion to $3.47 billion. The board also authorized a new $1.0 billion share repurchase program that replaces the prior $800.0 million authorization.
Q4 2024 revenue $983.4 million, up 5%; GAAP diluted EPS $0.36 versus $0.25 a year earlier
Etsy reported fourth quarter 2024 revenue of $852.2 million, up 1.2% year over year, and net income of $129.9 million, up 56.0%. Gross merchandise sales (GMS) fell 6.8% to $3.7 billion, and the company said first quarter 2025 GMS will decline at a rate similar to the fourth quarter, which points to continued weakness in sales volume for shareholders.
Q4 2024 diluted net income per share was $1.03, up from $0.62 a year earlier
Full-year 2024 revenue was $2.8 billion, up 2.2%, while full-year net income was $303.3 million, down 1.4%
Q1 2025 guidance: GMS decline similar to Q4 2024's 6.8%, take rate about 23%, adjusted EBITDA margin about 25-26%
In Q4 2024 Etsy repurchased about $260 million, or 4.9 million shares, of common stock
Stepan reported fourth-quarter 2024 net sales of $525.6 million, down 1% from a year earlier, and reported net income of $3.4 million versus a $1.2 million loss in the prior year. Adjusted net income fell 63% to $2.8 million, mainly due to pre-commissioning costs at its new Pasadena, Texas facility, a $2.9 million Latin American tax reserve and CEO transition expenses. The company also declared a quarterly dividend of $0.385 per share, payable March 14, 2025.
Q4 2024 net sales were $525.6 million, down 1% year over year; Polymers sales fell 12%
Q4 2024 reported net income was $3.4 million ($0.15 per diluted share) versus a $1.2 million loss a year earlier
Full-year 2024 net income rose 25% to $50.4 million, while full-year net sales fell 6% to $2.18 billion
Quarterly cash dividend of $0.385 per share payable March 14, 2025 to holders of record on March 3, 2025
Garmin reported fourth-quarter 2024 revenue of $1.82 billion, up 23%, and record full-year revenue of $6.30 billion, up 20%. Q4 GAAP EPS was $2.25 versus $2.82 a year earlier, a period that included a $159 million income tax benefit, while pro forma EPS rose 40% to $2.41. The company expects 2025 revenue of about $6.80 billion and pro forma EPS of about $7.80, and the board intends to recommend a $3.60 per share annual dividend.
Q4 2024 operating income was $516 million, up 52%, with operating margin of 28.3% versus 23.0%.
Full-year 2024 GAAP diluted EPS was $7.30 versus $6.71; pro forma diluted EPS was $7.39 versus $5.59.
2025 guidance calls for revenue of about $6.80 billion and pro forma EPS of about $7.80.
The board intends to recommend a $3.60 per share cash dividend for shareholder approval at the June 6, 2025 annual meeting.
OneSpaWorld reported fourth quarter and fiscal 2024 results, with fiscal 2024 revenue up 13% to $895.0 million and Adjusted EBITDA up 26% to $112.1 million, both described as records. The company reaffirmed its fiscal 2025 guidance and declared a quarterly dividend of $0.04 per share, which shareholders would receive.
Q4 2024 total revenues rose 11% to $217.2 million; net income was $14.4 million, or $0.14 per diluted share, versus a net loss of $7.3 million in Q4 2023.
Fiscal 2024 Adjusted EBITDA rose 26% to $112.1 million, and income from operations rose 44% to $78.1 million.
Fiscal 2025 guidance reaffirmed: total revenues of $950 to $970 million and Adjusted EBITDA of $115 to $125 million.
First quarter 2025 guidance: revenues of $215 to $220 million and Adjusted EBITDA of $25 to $27 million; the company declared a $0.04 quarterly dividend per share.
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